Atlantic Union Bankshares Corp Lowers Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Atlantic Union Bankshares Corp decreased its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 5.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,010 shares of the insurance provider’s stock after selling 1,125 shares during the period. Atlantic Union Bankshares Corp’s holdings in The Hartford Financial Services Group were worth $1,528,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. GoalVest Advisory LLC lifted its holdings in The Hartford Financial Services Group by 464.8% during the fourth quarter. GoalVest Advisory LLC now owns 305 shares of the insurance provider’s stock worth $25,000 after buying an additional 251 shares during the period. CVA Family Office LLC purchased a new stake in The Hartford Financial Services Group during the fourth quarter worth $27,000. Chilton Capital Management LLC purchased a new stake in The Hartford Financial Services Group during the fourth quarter worth $28,000. Selway Asset Management purchased a new stake in The Hartford Financial Services Group during the third quarter worth $29,000. Finally, Quarry LP purchased a new stake in The Hartford Financial Services Group during the first quarter worth $31,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Analyst Upgrades and Downgrades

HIG has been the subject of a number of analyst reports. UBS Group upped their target price on The Hartford Financial Services Group from $100.00 to $107.00 and gave the stock a “buy” rating in a report on Monday, February 5th. JPMorgan Chase & Co. lowered The Hartford Financial Services Group from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $94.00 to $91.00 in a report on Monday, January 8th. Raymond James increased their price objective on The Hartford Financial Services Group from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Roth Mkm increased their price objective on The Hartford Financial Services Group from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, February 2nd. Finally, TD Cowen started coverage on The Hartford Financial Services Group in a report on Wednesday, January 10th. They set an “outperform” rating for the company. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, The Hartford Financial Services Group currently has an average rating of “Moderate Buy” and a consensus target price of $92.06.

The Hartford Financial Services Group Price Performance

HIG traded up $0.75 during trading on Friday, reaching $103.05. The company’s stock had a trading volume of 1,548,592 shares, compared to its average volume of 2,034,704. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.29. The firm has a fifty day simple moving average of $93.97 and a two-hundred day simple moving average of $82.21. The Hartford Financial Services Group, Inc. has a 1 year low of $67.01 and a 1 year high of $103.27. The company has a market cap of $30.64 billion, a price-to-earnings ratio of 12.90, a PEG ratio of 1.47 and a beta of 0.88.

The Hartford Financial Services Group (NYSE:HIG) last released its earnings results on Friday, February 2nd. The insurance provider reported $3.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.44 by $0.62. The Hartford Financial Services Group had a net margin of 10.21% and a return on equity of 19.82%. The business had revenue of $6.40 billion for the quarter, compared to analyst estimates of $5.84 billion. During the same period last year, the company posted $2.31 EPS. The business’s revenue was up 6.4% on a year-over-year basis. As a group, analysts anticipate that The Hartford Financial Services Group, Inc. will post 9.94 EPS for the current year.

The Hartford Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 2nd. Stockholders of record on Monday, March 4th will be issued a dividend of $0.47 per share. The ex-dividend date is Friday, March 1st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.82%. The Hartford Financial Services Group’s dividend payout ratio is currently 23.53%.

Insider Transactions at The Hartford Financial Services Group

In other news, EVP Adin M. Tooker sold 8,206 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $95.60, for a total transaction of $784,493.60. Following the completion of the sale, the executive vice president now owns 25,820 shares in the company, valued at approximately $2,468,392. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Robert W. Paiano sold 14,528 shares of The Hartford Financial Services Group stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $93.97, for a total value of $1,365,196.16. Following the completion of the sale, the executive vice president now owns 46,792 shares in the company, valued at approximately $4,397,044.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Adin M. Tooker sold 8,206 shares of The Hartford Financial Services Group stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $95.60, for a total transaction of $784,493.60. Following the completion of the sale, the executive vice president now owns 25,820 shares of the company’s stock, valued at approximately $2,468,392. The disclosure for this sale can be found here. Insiders sold 259,342 shares of company stock worth $23,256,523 in the last 90 days. Insiders own 1.80% of the company’s stock.

The Hartford Financial Services Group Profile

The Hartford Financial Services Group, Inc, together with its subsidiaries, provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers insurance coverages, including workers' compensation, property, automobile, general and professional liability, package business, umbrella, fidelity and surety, marine, livestock, accident, health, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.